McDonald’s (NYSE:MCD) Revenue in the first half was up 25% excluding the impact of currency changes, to $11bn, reflecting strong growth across all segments. Net income more than doubled to £3.8bn, helped by the sale of McDonald’s Japan stock, favourable tax adjustments, and easing Covid restrictions.
Q2 2021 hedge fund letters, conferences and more
So far this year the group’s generated nearly $8bn worth of sales through digital platforms, a 70% annual increase. CEO Chris Kempczinski said, “It's clear that our next chapter will be driven by our leadership in digital.”
The shares were flat following the announcement.
McDonald’s Strong Q2 Results
Laura Hoy, Equity Analyst at Hargreaves Lansdown:
“McDonald’s delivered strong second quarter results, contributing to a 25% revenue increase for the first half. The group hit the nail on the head with it’s BTS meal promotion in the US and managed to deliver comparable sales growth across all segments on both a one and two-year basis.
The results suggest the group is back on track after the pandemic closed down most of its locations last year. But the expedited shift to digital that came alongside Covid hasn’t been forgotten. The group’s maintaining its focus on growing through digital channels, with sales up 70% from the start of the year. We suspect that the world’s pivot to digital is here to stay, so although restaurant sales are still more profitable, online growth is the new frontier."
About Hargreaves Lansdown
Over 1.6 million clients trust us with £132.9 billion (as at 30 April 2021), making us the UK’s largest digital wealth management service. More than 98% of client activity is done through our digital channels and over 600,000 access our mobile app each month.
